Competition for Site Acquisitions, Persistently High Construction Costs, and Rising Sales Prices
First written in FY2017-Q1. 28 of 37 entries say "Worsened", first in FY2017-Q3. Latest entry: 2026-08-07.
Central General Development moved to the "Worse" side of this theme in 2017, 3 years before the typical company in this theme (2020).
The whole theme swung hardest in 2022: 13 of 23 companies on the "Worse" side.
10 other companies' latest entry also says "Worsened".
- 2026-08-07WorsenedEarnings
「平均価格は前年同期比13.1％増の１億135万円と上半期の過去最高値を更新するなど(㈱不動産経済研究所調査)、継続的な建築費の上昇によりマンション価格は依然として高値圏で推移しております。」
建築費の継続的な上昇を背景に、首都圏のマンション平均価格が上半期の過去最高値を更新し、高値圏が続いている。 - FY2026WorsenedAnnual report
「The average price of condominiums launched nationwide from January to December 2025 rose 7.8% year on year to ¥65.56 million, setting a record high for the ninth consecutive year.」
The nationwide average condominium price rose 7.8% year on year to ¥65.56 million, setting a record high for the ninth consecutive year. The environment of rising prices and elevated price levels became more pronounced. - FY2026-H1WorsenedAnnual report
「The average price of newly built condominiums rose 19.3% year on year to ¥94.89 million due to higher construction and land costs, setting a record high for the third consecutive year.」
Against a backdrop of rising construction and land costs, the average price in the Tokyo metropolitan area rose 19.3% year on year to ¥94.89 million, setting a record high for the third consecutive year. The risks of further price increases and prices remaining elevated became more pronounced. - FY2025WorsenedAnnual report
「The average price of condominiums launched nationwide from January to December 2024 rose 2.9% year on year to ¥60.82 million, setting a record high for the eighth consecutive year.」
The nationwide average condominium price rose 2.9% year on year to ¥60.82 million, setting a record high for the eighth consecutive year. The environment of rising prices continued. - FY2025-H1WorsenedAnnual report
「The average price of newly built condominiums in the Tokyo metropolitan area from April to September rose 1.5% year on year to ¥79.53 million, with prices continuing to rise due to higher construction and land costs, setting a record high for the second consecutive year (survey by Real Estate Economic Research Institute Co., Ltd.).」
Against a backdrop of rising construction and land costs, the average price in the Tokyo metropolitan area rose 1.5% year on year to ¥79.53 million, setting a record high for the second consecutive year. - FY2024WorsenedAnnual report
「The average price of condominiums launched nationwide from January to December 2023 rose 15.4% year on year to ¥59.11 million, setting a record high for the seventh consecutive year.」
The nationwide average condominium price rose 15.4% year on year to ¥59.11 million, setting a record high for the seventh consecutive year. Price increases became more pronounced nationwide. - FY2024-Q3WorsenedAnnual report
「The average price of newly built condominiums for sale in the greater Tokyo area in 2023 (January to December) rose 28.8% year on year to ¥81.01 million because of soaring land acquisition and construction costs, increasing for the fifth consecutive year and significantly exceeding the previous record high.」
Against a backdrop of soaring land acquisition and construction costs, the average price in the greater Tokyo area rose 28.8% year on year to ¥81.01 million, marking a fifth consecutive annual increase and significantly exceeding the previous record high. - FY2024-Q2WorsenedAnnual report
「The average price of newly built condominiums for sale in the greater Tokyo area during the first half of fiscal 2023 (April to September) rose 23.7% year on year to ¥78.36 million. Prices continued to rise. In Tokyo's 23 wards, the average price from April to September was ¥105.72 million, up 36.1% year on year」
The average price in the greater Tokyo area was ¥78.36 million, up 23.7% year on year, while the average price in Tokyo's 23 wards was ¥105.72 million, up 36.1% year on year. Rising prices and higher-priced properties became even more pronounced. - FY2024-Q1WorsenedAnnual report
「The average price of newly built condominiums for sale in the greater Tokyo area during the first half of 2023 (January to June) rose 36.3% year on year to ¥88.73 million, marking a second consecutive first-half increase and a significant new record high. This was attributed mainly to soaring construction costs and land prices, as well as sales of high-priced properties in central Tokyo lifting the overall figure.」
The average price in the greater Tokyo area was ¥88.73 million, up 36.3% year on year, significantly exceeding the previous record high. Soaring construction costs and land prices, together with high-priced properties in central Tokyo, were cited as factors. - FY2023WorsenedAnnual report
「The average price of condominiums for sale nationwide from January to December 2022 rose 0.1% year on year to ¥51.21 million, exceeding ¥50 million for the second consecutive year and setting a new record high for the sixth consecutive year.」
The average price of condominiums for sale nationwide was ¥51.21 million, up 0.1% year on year, exceeding ¥50 million for the second consecutive year and setting a new record high for the sixth consecutive year. - FY2023-Q3WorsenedAnnual report
「The average price of newly built condominiums for sale in the greater Tokyo area in 2022 (January to December) rose 0.4% year on year to ¥62.88 million, increasing for the fourth consecutive year and setting a new record high for the second consecutive year, mainly because construction material and labor costs continued to rise over the medium to long term.」
Construction material and labor costs continued to rise over the medium to long term. The average price in the greater Tokyo area was ¥62.88 million, up 0.4% year on year, marking a fourth consecutive annual increase and a new record high for the second consecutive year. - FY2023-Q2Construction material costs remain high, with prices continuing at elevated levelsAnnual report
「Meanwhile, the average price fell 5.5% from the previous year to ¥63.33 million, but remained at the second-highest level on record after the previous year's record high and continued to be elevated.」
Although the average price declined year on year, it remained at the second-highest level on record. Uncertainty over the outlook due to soaring construction material costs and other factors, as well as rising costs of sales, continued to be highlighted. - FY2023-Q1WorsenedAnnual report
「The average price of newly built condominiums for sale in the greater Tokyo area during the first half of 2022 (January to June) was ¥65.11 million, up 1.5% year on year. This was attributed mainly to companies becoming increasingly cautious amid soaring prices, a decline in development projects and uncertainty over the outlook for the housing market.」
The average price in the greater Tokyo area was ¥65.11 million, up 1.5% year on year. In addition to soaring prices, a decline in development projects and uncertainty over the outlook were noted. - FY2022WorsenedAnnual report
「The average price of condominiums for sale nationwide rose 2.9% year on year to ¥51.15 million, exceeding ¥50 million and setting a new record high for the fifth consecutive year.」
The average price of condominiums for sale nationwide was ¥51.15 million, up 2.9% year on year, exceeding ¥50 million for the fifth consecutive year and setting a new record high for the fifth consecutive year. The nationwide risk of rising prices continued and intensified. - FY2022-Q3WorsenedAnnual report
「The annual average price rose 2.9% year on year to ¥62.60 million, a record high」
The annual average price of newly built condominiums for sale in the greater Tokyo area rose 2.9% year on year to ¥62.60 million, setting a new record high. The environment of rising prices continued and intensified. - FY2022-Q2WorsenedAnnual report
「The average price of newly built condominiums for sale in the greater Tokyo area rose 10.1% year on year to ¥67.02 million, the highest level on record for a first half. This was attributed mainly to strong sales of condominiums priced above ¥100 million in central Tokyo.」
The average price in the greater Tokyo area was ¥67.02 million, up 10.1% year on year, setting a new record high for a first half. - FY2022-Q1Lower average price due to a change in composition resulting from increased suburban supplyAnnual report
「Meanwhile, the average price of newly built condominiums for sale in the greater Tokyo area during the first half was ¥64.14 million, down 3.9% year on year and marking the first decline in 9 years. This was attributed to the increased share of suburban units supplied, which pushed down the overall level.」
The average price in the greater Tokyo area fell 3.9% year on year, marking the first decline in 9 years. However, the decline was explained as a compositional change caused by the increased share of suburban supply. - FY2021-Q3RestatedAnnual report
「Meanwhile, the annual average price in the greater Tokyo area rose 1.7% year on year to ¥60.84 million, increasing for the second consecutive year as the share of the 23 central Tokyo wards grew, and reaching the second-highest level on record after ¥61.23 million in 1990.」
The annual average price in the greater Tokyo area was ¥60.84 million, up 1.7% year on year, marking a second consecutive annual increase and the second-highest level on record. Selling prices remained high. - FY2021-Q2RestatedAnnual report
「Meanwhile, the average price in the greater Tokyo area rose 1.3% year on year to ¥60.85 million, increasing for the second consecutive year and remaining high.」
The average price in the greater Tokyo area was ¥60.85 million, up 1.3% year on year and rising for the second consecutive year, while selling prices remained high. - FY2021-Q1WorsenedAnnual report
「Meanwhile, the average price of newly built condominiums for sale in the greater Tokyo area during the first half rose 8.7% year on year to ¥66.68 million, setting a new record high.」
The average price of newly built condominiums for sale in the greater Tokyo area was ¥66.68 million, up 8.7% year on year, setting a new record high. Selling prices became even more clearly elevated and continued to rise. - FY2020WorsenedAnnual report
「Condominium prices have remained high because of rising land prices, higher construction material costs and persistently high construction costs caused by labor shortages」
Rising land prices, higher construction material costs and labor shortages were explicitly identified as factors behind persistently high construction costs, clarifying the drivers of cost increases. - FY2020-Q3WorsenedAnnual report
「The average price in 2019 (January to December) rose 1.9% year on year to ¥59.80 million, increasing for the first time in 2 years and reaching its highest level since ¥61.23 million in 1990. Selling prices remained high.」
The average price of newly built condominiums for sale in the greater Tokyo area was ¥59.80 million, up 1.9% year on year, and selling prices remained high at their highest level since 1990. - FY2020-Q2WorsenedAnnual report
「As condominium selling prices continued to rise because of higher land prices and persistently high construction costs, prospective buyers became increasingly cautious, which is said to have been the main reason companies restrained new launches.」
Rising land prices and persistently high construction costs continued to be identified as factors behind rising selling prices and were described as contributing to companies' restraint in launching new projects. - FY2020-Q1WorsenedAnnual report
「The average price of newly built condominiums in the greater Tokyo area during the first half of 2019 (January to June) rose 2.9% year on year to ¥61.37 million, increasing for the seventh consecutive year.」
The average price of newly built condominiums in the greater Tokyo area was ¥61.37 million, up 2.9% year on year, marking the seventh consecutive annual increase. Soaring selling prices and companies' restraint in launching new projects were also noted. - FY2019RestatedAnnual report
「Amid nationwide land price increases, competition with other companies for condominium development sites has intensified further, partly because of a rush to build hotels in anticipation of an increase in inbound tourists. In addition, condominium prices have remained high, driven mainly by rising land prices and persistently high construction costs.」
Rising land prices, persistently high construction costs, competition for development sites and high condominium prices continued to be described as part of the business environment. - FY2019-Q3RestatedAnnual report
「Meanwhile, the annual average price in the greater Tokyo area edged down 0.6% year on year to ¥58.71 million, but the price per square meter generally rose in each prefecture, and selling prices remained high.」
Although the average price in the greater Tokyo area edged down, the price per square meter continued to rise and selling prices remained high, indicating that the environment of rising and persistently high prices continued. - FY2019-Q2WorsenedAnnual report
「This is said to have been caused mainly by companies spacing out launch dates and reducing the number of units brought to market because of the impact of persistently high selling prices.」
Persistently high selling prices continued to be explicitly identified as a major factor behind companies' efforts to limit launches, illustrating how rising prices have led to declining supply. - FY2019-Q1RestatedAnnual report
「In response to condominium price increases driven by rising land prices and persistently high construction costs, we maintain close exchanges of information from the development-site procurement stage with construction companies with which we have traditionally done business, while expanding these relationships as necessary.」
Condominium price increases driven by rising land prices and persistently high construction costs continued to be described as part of the business environment. - FY2018WorsenedAnnual report
「As of 1 January 2018, the nationwide average official land prices for commercial, industrial and residential land had exceeded the previous year's levels for the third consecutive year. In addition, prices in regional areas turned upward for the first time in 26 years, indicating that land price increases had spread nationwide.」
Land price increases were shown to have spread beyond the national average to regional areas, further broadening the environment of rising costs surrounding land acquisition, construction costs and selling prices. - FY2018-Q3WorsenedAnnual report
「To respond appropriately to the business environment of rising prices driven mainly by persistently high construction costs, intensifying competition for development sites and an increasingly diverse market」
In addition to price increases driven mainly by persistently high construction costs, intensifying competition for development sites was explicitly noted. The average price in the greater Tokyo area was ¥59.08 million, up 7.6% year on year, making it the second-highest level on record. - FY2018-Q2WorsenedAnnual report
「As selling prices for newly built condominiums rise nationwide and customer preferences diversify」
The nationwide scope of rising selling prices was reaffirmed, with the average price in the greater Tokyo area specified at ¥59.93 million, up 5.9% year on year and rising for the fifth consecutive first half on a fiscal-year basis. - FY2018-Q1WorsenedAnnual report
「As real estate prices rise nationwide and customer preferences diversify, our focus is on developing and providing products suited to local characteristics that customers will choose, rather than supplying uniform products」
Rising real estate prices were described as a nationwide environment, rather than one limited to the greater Tokyo area and other regions, indicating that the scope of the price increase risk had broadened. - FY2017-Q3WorsenedAnnual report
「This is said to have been driven mainly by the impact of rising selling prices. The number of launches in the greater Tokyo area fell below 40,000 units for the first time in 7 years, since the 36,376 units recorded in 2009 (survey by the Real Estate Economic Research Institute, Inc.).」
Rising selling prices were explicitly identified as a major factor behind the decline in launches, with the existing risk of price increases described as contributing to market contraction. - FY2017-Q2RestatedAnnual report
「Declining year on year for 9 consecutive months through August as selling prices remained high」
High selling prices continued to be cited as a factor behind the decline in launches in the greater Tokyo area. - FY2017-Q1First statedAnnual report
「Against this business backdrop, we have focused on responding appropriately to competition for development sites, persistently high construction costs and rising selling prices」
Competition, costs and rising prices were identified as external factors that could affect the profitability of condominium development and the acquisition of development sites.